FINANCE

A familiar U.S. retailer will soon make its exit from the U.K. retail scene.    Staples, which operates some 105 stores in the United Kingdom, has agreed to sell its U.K. retail business and operations to Hilco Capital Limited. The use of the Staples brand in the U.K. will be phased out over the coming months.   In May, Staples announced plans to explore strategic alternatives for its European operations as part of its new strategy.  

Walmart on Thursday posted third-quarter earnings that managed to beat analysts' expectations even as net sales fell short.     The retailer also lifted the lower end of its full-year guidance and expressed confidence going into the holiday season.    Walmart’s net income fell to $3.03 billion, or 98 cents per share, in the quarter ended Oct. 31, which was two cents more than the Wall Street consensus according to Bloomberg.  

Staples Inc. on Thursday reported earnings for its third quarter in line with its expectations but revenue fell short of forecasts as same-store sales fell.   Earnings came in at $179 million, or 27 cents a share, compared with $198 million, or 31 cents a share, a year ago. Adjusted earnings came in at 34 cents a share.   Total company sales fell 4% to $5.4 billion in the quarter ended Oct. 29, missing estimates.  

Ace Hardware Corporation reported a sales miss in the third quarter -- even if the co-op wasn't expecting to match its impressive results in the prior-year quarter.   “The third quarter of last year was the best in company history, with revenues up 13.2% and net income up 45.3%,” said John Venhuizen, president and CEO. “As a result, our expectation for the third quarter of this year was modest sales growth and lower net income. We whiffed on sales, but exceeded our net income budget for our domestic business."

Improving traffic and sales, particularly in the digital channel, helped Target Corp. easily beat third-quarter profit expectations as the discounter raised its year-end outlook.    Target’s profit increased 10.7% to $608 million, or $1.07 cents a share, up from $549 million, or 88 cents a share, in the year-ago period. Adjusted for one-time expenses, it earned $1.04 cents a share, which was better than the 83 cents analysts had expected.  

Encina Business Credit, has provided a $30 million debtor-in-possession (DIP) facility to American Apparel, which recently filed for Chapter 11 bankruptcy protection.   

Sales were up in the third quarter, but Lowe’s Companies’ financial performance impressed neither its investors nor its CEO.   The home improvement retailer’s net income dropped dramatically, owing to $462 million non-cash pre-tax charges. Net income declined to $379 million, compared to $736 million in the same quarter last year.  

There was a lot for Home Depot executives to like about the company’s third-quarter performance. The company reported sales growth of 6.1% and net earnings growth of 14.1%.   Beyond the numbers, here are some of the key takeaways form the company’s presentation to investors.   • Digital growth